Bitcoin Network Activity Hits 6-Month High – Is Demand Back?
The post Bitcoin Network Activity Hits 6-Month High – Is Demand Back? appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin is trading just below the psychological $100K mark, facing a critical test as bulls attempt to sustain the recovery rally. After weeks of strong upside momentum, the market has now entered a decisive phase, where a breakout above $100K could trigger a wave of renewed buying interest and potentially mark the start of a new all-time high run. However, failure to reclaim this level may signal exhaustion, leading to another consolidation or even correction phase. Analysts remain divided on what’s next for Bitcoin. Some point to improving technical structure and strong demand zones as signs of a bullish continuation. Others argue that macroeconomic uncertainty, including persistent global tensions and shifting monetary policy, could cap further upside in the near term. On-chain data offers additional insight. According to Glassnode, 925,914 Bitcoin addresses were active in the past 24 hours. This uptick in engagement reflects rising interest and potential accumulation as the market anticipates its next move. Bitcoin Momentum Builds As Network Activity Spikes Bitcoin is positioning itself for what could be the start of a massive rally. After reclaiming the $90K level with strong momentum, bulls have managed to push price action near the key psychological resistance of $100K. Analysts are increasingly confident that a clean breakout above this level could ignite a sustained market-wide uptrend. The current technical setup suggests that Bitcoin is attempting to break free from the consolidation zone formed after the last all-time high, signaling a potential continuation of the broader bull cycle. Following months of heavy selling pressure and uncertainty, Bitcoin has shown remarkable resilience. Since bottoming out earlier in April, the price has surged over 15%, regaining investor confidence and bringing back bullish sentiment. The push above $90K marked a key…
The post Bitcoin Network Activity Hits 6-Month High – Is Demand Back? appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin is trading just below the psychological $100K mark, facing a critical test as bulls attempt to sustain the recovery rally. After weeks of strong upside momentum, the market has now entered a decisive phase, where a breakout above $100K could trigger a wave of renewed buying interest and potentially mark the start of a new all-time high run. However, failure to reclaim this level may signal exhaustion, leading to another consolidation or even correction phase. Analysts remain divided on what’s next for Bitcoin. Some point to improving technical structure and strong demand zones as signs of a bullish continuation. Others argue that macroeconomic uncertainty, including persistent global tensions and shifting monetary policy, could cap further upside in the near term. On-chain data offers additional insight. According to Glassnode, 925,914 Bitcoin addresses were active in the past 24 hours. This uptick in engagement reflects rising interest and potential accumulation as the market anticipates its next move. Bitcoin Momentum Builds As Network Activity Spikes Bitcoin is positioning itself for what could be the start of a massive rally. After reclaiming the $90K level with strong momentum, bulls have managed to push price action near the key psychological resistance of $100K. Analysts are increasingly confident that a clean breakout above this level could ignite a sustained market-wide uptrend. The current technical setup suggests that Bitcoin is attempting to break free from the consolidation zone formed after the last all-time high, signaling a potential continuation of the broader bull cycle. Following months of heavy selling pressure and uncertainty, Bitcoin has shown remarkable resilience. Since bottoming out earlier in April, the price has surged over 15%, regaining investor confidence and bringing back bullish sentiment. The push above $90K marked a key…
What's Your Reaction?
